Looking back at history, European capitalism has been exploring between efficiency and fairness to constantly find points that lead to reforms. The European people chose a different path from that of the US - a path that emphasizes welfare and fair distribution. However, even under welfare capitalism, it does not change the nature of capitalism and its inherent flaws, which has inevitably led to the widening of the wealth gap.

It seems that the French people cannot find a way out now. Neither can the US. Capitalism seems to have reached a critical point, and although it will not disappear quickly, the future path is uncertain.

  • Tormato [none/use name]
    ·
    2 years ago

    “The current economic strength of France is based on the historical foundation of more than 500 years of Western colonial expansion, as well as the achievements of hardwork by one or two generations after the end of the WWII.

    Today, France still controls the currency of 14 former West African colonies, with the franc being their legal currency, and these countries must deposit 50 percent of their foreign exchange reserves at the French Public Treasury. This is one of the reasons why the French still enjoy almost the most generous social welfare system in the world, including pensions.“

    I’m not sure this had ever occurred to me about France as starkly as this suggests.

    We know that we as Americans live way too comfortably from the spoils of the very long arm of our own relentless imperialism. Though most dupes just think it’s American Exceptionalism.

    Really hoping this transits into something potent enough to bring down this IMF-controlled crony capitalist government - and the dominoes just start falling everywhere. But I’ve fervently thought this a few times since Occupy, only to be bitterly disappointed.

    Keeping my eye on it. Dare I be helplessly naive again once more to think the high level of intensity in these broadly supported protests and strikes will actually be different this time…